Let’s talk about porting your mortgage. It sounds complex, but it’s actually a pretty simple concept that can make your home-buying experience much smoother. Porting your mortgage means transferring your existing mortgage—along with its current rate, terms, and balance—from your current home to the new one you’re purchasing. This can be a huge advantage, especially […]
So you’ve secured a rate and the rate dropped. What know? This is a conversation I have daily. Now I know when you are looking to refinance or obtain a new mortgage—one goal is usually top of mind: securing the lowest possible rate. Let’s face it, locking in a great rate can […]
Will a reverse mortgage affect my credit score? While a reverse mortgage doesn’t directly impact your credit score, using the funds to pay off existing debts could actually boost your credit profile and increase your score! It’s a win-win. Are reverse mortgage payments taxable? Nope! The money you receive from a reverse mortgage isn’t […]
As a mortgage broker, I often speak with clients aged 55+ who are looking for ways to supplement their retirement income or cover unexpected expenses. A reverse mortgage can be a great solution for many Canadians in this situation. Many Canadians are looking for ways to bolster their retirement income, handle unexpected expenses, or simply […]